New Account Verification Analyst Grade

How would you like to join one of the most highly regarded financial institutions in New Jersey with deep roots in the community?  Provident is a successful and highly regarded multi-billion-dollar bank that continues to grow with branches in New Jersey, Eastern Pennsylvania and New York.  Our longevity is a testament to our commitment to placing our employees, customers, and the communities we serve at the center of all we do.  At Provident Bank, we are committed to enhancing our customer and employees’ experience. 

POSITION SUMMARY

New Account Verification Analyst will be directly responsible for the review and analysis of client onboarding documentation for adherence to various internal and external requirements.  This process entails reviewing all new client onboarding documentation for completeness, accuracy and adherence to current Customer Information Program (CIP) regulatory requirements and Bank policy and procedures.  New Account Verification Analyst will also assist New Account Verification Supervisor and BSA management in special projects as required.

KEY RESPONSIBILITIES:

• Within the established timeframes relating to account opening and as directed, obtain, review and analyze all applicable client onboarding documentation, inclusive of the account signature card, identification documents, business formation documents, and/or certification documents, and site visit checklist for adherence to regulatory requirements/restrictions, as well as Bank policies and procedures. 
• Analyze account opening documentation and identify relationships which may need an approval for exception to policy. Ensure CIP exception process is completed thoroughly and timely with proper documentation.
• Interact with branch personnel, lenders and other business partners to ensure all required revisions to onboarding documentation are completed in a timely manner. Escalate to BSA management if the issues are not addressed timely.
• Responsible for identifying unusual and/or potentially suspicious activity and determine if it is beyond the risk profile of the bank. When detected, escalate to BSA management to determine the appropriate action (i.e. account restrictions, close-out, and/or referral to BSA Compliance for further review and investigation).
• Conduct an analysis of the new account and identify anomalies between the transactions conducted by the customer and their stated/anticipated transactions as described during the account opening. Make appropriate recommendations for maintaining, restricting or closing the account.
• Maintain accurate and complete files of all reviewed client documentation.  Ensure client records are secured against unauthorized access at all times.
• Assist Supervisor with creating and maintaining an effective workflow and New Account Verification Policies and Procedures.
• Responsible for the tracking, maintaining and accuracy of account closure and training logs. Other duties as assigned.

MINIMUM QUALIFICATIONS:

• 0-18 months related experience and/or training
• High School diploma or GED plus advanced schooling at the community college or university level in such fields as Criminal Justice, Accounting, Business Administration, Finance, etc.
• In depth knowlefdge of the AML/BSA and OFAC laws and regulations
• Knowledge of Provident Bank policies and procedures
• Excellent written and oral communication skills
• Strong presentation skills
• Ability to adapt and work in a fast-paced environment, prioritize a complex workload and meet deadlines.
• Strong analytical and decision-making skills

PREFERRED QUALIFICATIONS:
ACAMS preferred

WORKING CONDITIONS:

Work is performed in a normal office environment. Noise levels are usually moderate.

This position involves travel to customers and property locations. (add this to client facing positions)

• Prolonged sitting
• Lifting from 5 to 10 lbs. (printer paper, storage boxes)
• Occasional bending or overhead lifting (storing files or boxes)
• The hazards are mainly those present in a normal office setting.

This job description may not be all-inclusive. Employees are expected to perform other duties as assigned and directed by management. Job descriptions and duties may be modified when deemed appropriate by management.

Provident Bank recognizes and supports the importance of creating a socially and culturally diverse employee base. We understand, value, and appreciate the unique perspectives that a diverse workforce can contribute to our organization. We put the employee and the customer at the center of strategy because culture is a critical differentiator for why people choose to work here.    

We are an equal opportunity employer, and all qualified applicants will receive consideration for employment without regard to age 40 and over, color, disability, gender identity, genetic information, military or veteran status, national origin, race, religion, sex, sexual orientation or any other applicable status protected by state or local law.